The Economic and Financial Crimes Commission (EFCC) arraigned the vessel MT Ostria, along with three men Raymundo Panaligam, Roneno Villarin, and Vincent Wayas on Wednesday before the Ikeja Special Offences Court. They face a four-count charge relating to conspiracy and theft of over 13 million litres of Premium Motor Spirit (PMS) valued at ₦12 billion, belonging to NNPC Retail Limited.
According to the EFCC, the defendants conspired in January 2024 to steal 13,354,000 litres of PMS, with one count alleging that on January 17, 2024, they dishonestly took nine million litres of the fuel. The EFCC prosecution argued that the defendants pose flight risks and should be remanded in custody, but the defense noted that bail applications are in place and that they remain on EFCC administrative bail.
Justice Mojisola Dada ruled that the defendants should continue on their existing bail conditions, adjourning the case until November 17 for trial.
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